A cease trade order was issued by the Alberta and Ontario securities commissions on July 4, 2023, against Magnetic North Acquisition Corp., for failing to file its annual audited financial statements, annual management's discussion and analysis, and the certification of the annual filings, for the period ended Dec. 31, 2022, and the interim unaudited financial reports, interim management's discussion and analysis, and the certification of the interim filings, for the period ended March 31, 2023.

Upon revocation of the cease trade order, the company's shares will remain suspended until the company meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.